BJC HealthCare's total revenue increased year over year in the first six months of this year, but the St. Louis-based system's operating income declined, according to recently released unaudited financial documents.
BJC, a 15-hospital system, reported revenues of $2.81 billion in the six months ended June 30, up 1.5 percent from $2.76 billion in the same period last year. Those gains were offset by higher expenses, which climbed 4.8 percent year over year.
BJC ended the first half of this year with operating income of $17.9 million, down 83 percent from $105.8 million in the same period of 2019.
After factoring in a nonoperating loss of $420.4 million, the health system posted a net loss of $402.5 million in the first six months of 2020. In the first half of 2019, BJC recorded a nonoperating gain of $295.1 million and net income $400.9 million.
More articles on healthcare finance:
Providence posts $538M loss, lays out 3-part strategic plan
Hospitals must repay Medicare for $100B pandemic lifeline
Medicare payment rules for 2021: 11 notes for hospital execs